A while back, I made a prediction that something bad was going to happen before the end of 2011. I think the recent stock market plunge qualifies as “something bad.” Where have all the trillions of dollars gone from the stock market? I think Wall Street is up to its old tricks and harvested the public’s hard earned 401-k money—again. The stock market has been an awful place for the “buy and hold” investor to park his money for the past 11 years. The little guy has been fleeced time and again by the short selling sharks. Back in June, James Howard Kunstler wrote a piece on his blog (Kunstler.com) that ended with this statement: “Bernanke, Obama, Geithner are powerless against the dark lurking churn, though they can easily make it worse. What a summer we’re in for. Get out of the stock market.” (Click here for the complete original post.) How can they make it worse? Print lots of money and bail out their friends. Telling people to get out of the market was a stellar call. Mr. Kunstler is today’s guest writer, and according to him, things are going to get a lot worse before they get better. Please enjoy his excellent post.—Greg Hunter–
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